627BC and already houses Albania’s largest port.
Te government officially signed off on the project at the end of January following a year of negotiations and huge criticism over the planned development with opposition leaders claiming it is a “massive corrupt affair” as it did not go through a proper competition tender process and “lacks transparency.”
Te Albanian government will be a 33 per cent stakeholder in the project as Prime Minister Edi Rama has been pushing the project for months waiving off questions from the opposition about costs and land issues.
Te Albanian Socialist Party (previously known as the Albanian Party of Labour) has ruled in Albania since 1944 when it was known then as the Albanian Communist Party. Prime Minister Edi Rama took over in 2013 after winning the parliamentary elections. He also served as
seats in parliament in protest. A year later the Strategic Investments Committee approved the project and in November the Assembly of Albania approved the agreement after a 14-hour debate with 76 in favour and 35 against.
Te opposition has raised its concerns over the ”accelerated procedure” which Prime Minister Rama said was simply due to the fact they are working with a large global company.
Te opposition claims the government is basically giving away 82,000 sq.m of prime real estate to the developers whilst the government’s tax incentives scheme, to help boost investment in Albania, is also being questioned.
Back in 2018 the ‘elite tourism’ package was introduced in Albania which included a number of fiscal incentives which called for amendments in the Tourism Law. Tis included a series of tax breaks to help boost investment in the country and gave B&Bs and four and five-
Saranda Marina is a development by Concord Investment which began last year in Limioni Bay and will include hotels, residential properties, and yacht port. The development will also include retail and the first cinema in Saranda. The location is five minutes’ walk from the Zero Zero Beach and two minutes from the planned yacht
port.The project is due to be completed in 2025. Concord Investment represents a group of companies and is one of the largest investment entities in Albania and headquarters in Tirana.
Mayor of Tirana between 2000 and 2011.
Te Democratic Party made its debut into Albania as the opposition party in 1991 and saw some election successes in the early 1990s but was blamed for the 1997 economic collapse. Chairman Lulzim Basha took over in 2013. He also served as Mayor of Tirana from 2011 to 2015.
Te government approval for the Durres Marina project took place at the end of 2020 and within a week it was approved by parliament at a time when the Democratic Party had given up its
star international branded hotels and resorts with ‘special status’ a VAT decrease from 20 per cent to six per cent plus an exemption from corporate tax (15 per cent) for a 10-year period if they applied before December 2024.
GAMBLING
Despite the dominant Muslim religion Albania does offer gambling and although outlawed during communism, gambling was legalised in 1991 and sports betting, lottery and casinos and slot halls were all permitted. Casino gambling
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